"After 21 incredible years, I have decided that now is the right time to finish my career as a professional footballer," Lampard said.
"Whilst I have received a number of exciting offers to continue playing at home and abroad, at 38 I feel now is the time to begin the next chapter in my life. I'm immensely proud of the trophies I've won, of representing my country over 100 times and of scoring more than 300 career goals," he added.
Lampard made his debut 1995 at West Ham and played for Chelsea from 2001 to 2014, winning the 2012 Champions League, 2013 Europa League, three Premier Leagues and four FA Cups
with the Blues.
A three-time Chelsea Player of the Year, Lampard is the club's all-time top scorer with 211 goals in all competitions.
After the 2014/15 season with Manchester City, Lampard joined the New York City in Major League Soccer where his contract expired after the 2016 season.
He was capped 106 times by England from 1999 to 2014, scoring 29 international goals.